Director's KYC
KYC simply means “Know Your Customers”. From the Companies perspective, Director’s KYC is the process of identification and verification of directors contact details on regular interval of time. This KYC enables the MCA portal to maintain the updated data of contact details of directors. Contact details of directors include their Email id and Mobile Number.
about Director's KYC
The companies act 2013 requires every individual who holds the DIN i.e Director’s identification number to confirm their appropriateness by doing KYC procedure on MCA portal. This process confirms the existence of director and their validity as a director. The term KYC generally refers to Know Your Customers. By this process the MCA checks the truthfulness of directors regarding their identity, residence and contact details.
Who is required to do KYC?
Every Director who has been allotted DIN on or before the end of the financial year, and whose DIN status is ‘Approved’, would be mandatorily required to file form DIR-3 KYC before 30th September of the immediately next financial year.
After expiry of the respective due dates, system will mark all non-compliant DINs against which DIR-3 KYC form has not been filed as ‘Deactivated due to non-filing of DIR-3 KYC’.
what if I do not do KYC?
If a director fails to carry out the directors KYC then in that case the director’s DIN will be marked as “Deactivated due to non-filing of DIR -3 KYC.” On marking like this, a director will not be allowed to file any forms on MCA portal. A director will not be allowed to certify any forms on behalf of his company. Later he may be declared as disqualified also.
documents list
- Details of Nationality and Citizenship details like gender, and date of birth.
- Permanent Account Number (PAN)
- Voters Identity card
- Passport (mandatory if a foreign national is holding a DIN)
- Driving License
- Aadhaar card
- Personal Mobile Number (For OTP)
- Personal Email Address (For OTP)
- Residential address.
- Digital signature of Individual filing the form
Attestation of the documents mentioned above from Practicing Professionals such as CA, CS, or Cost Accountants. In the case of Foreign Nationals, documents need to be attested by the prescribed authority
Process
To carry out the director’s KYC, one must follow the following easy steps.
- Download the E form DIR-3 KYC from mca.gov.in if you are performing KYC for the very first time after getting DIN.
- Fill the form with required data such as DIN, PAN, Name, Nationality, Address, Separate Mobile Number, Separate Email Id
- Verify Email id and Mobile number through OTP
- Attach necessary documents
- Digitally sign the form and upload the same.
AND, If you have already performed KYC through filing of above form then for subsequent years, you simply need to carry out “WEB BASED DIRECTOR’S KYC“. In this way of performing KYC, one only need to enter OTP on MCA portal where OPT verification will be checked. A successful verification of OTP will lead to generate the challan cum receipt which confirms the KYC completion.